Obrien County Economic Development
- Assets
- $2.6m
- Revenue
- $252.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Primghar, IA
- Founding
- 09/2001
- Data as of
- 06/2021
- EIN
- 42-1375644
Organization Overview
Obrien County Economic Development is located in Primghar, IA. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Obrien County Economic Development employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Obrien County Economic Development is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2021, Obrien County Economic Development generated $252.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $187.8k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE OCEDC MISSION IS TO CONSERVE, IMPROVE, DEVELOP AND EXPAND EXISTING INDUSTRIAL, COMMERCIAL AND PROFESSIONAL ENTERPRISES IN O'BRIEN COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
O'BRIEN COUNTY ECONOMIC DEVELOPMENT PROVIDES LOW INTEREST RATE LOANS TO BUSINESSES LOCATED IN O'BRIEN COUNTY, IOWA FOR THE EXPANSION AND GROWTH OF AREA BUSINESSES AND THE CREATION/PRESERVATION OF AREA JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kiana Johnson Exec Directo | Officer | 40 | $81,991 |
Steve Leng Vice-Preside | OfficerTrustee | 1 | $0 |
Marty Weber Treasurer | OfficerTrustee | 1 | $0 |
Jim Zeutenhorst President | OfficerTrustee | 1 | $0 |
Tom Farnsworth Board Member | Trustee | 1 | $0 |
Sharon Flinders Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $169,172 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,131 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $171,303 |
| Total Program Service Revenue | $56,360 |
| Investment income | $4,597 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,769 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $252,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $82,745 |
| Compensation of current officers, directors, key employees. | $82,745 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,983 |
| Pension plan accruals and contributions | $9,630 |
| Other employee benefits | $0 |
| Payroll taxes | $3,923 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,085 |
| Advertising and promotion | $3,425 |
| Office expenses | $3,759 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,506 |
| Travel | $4,946 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45 |
| Interest | $11,181 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,412 |
| Insurance | $1,471 |
| All other expenses | $0 |
| Total functional expenses | $187,811 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $811,863 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,986 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,748,366 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,399 |
| Net Land, buildings, and equipment | $1,828 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,026 |
| Total assets | $2,589,468 |
| Accounts payable and accrued expenses | $23,457 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,133,941 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,729 |
| Total liabilities | $1,179,127 |
| Net assets without donor restrictions | $996,030 |
| Net assets with donor restrictions | $414,311 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,589,468 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Information Systems Audit And Control Association Inc Schaumburg, IL | $168,414,298 | $101,751,321 |
International Code Council Inc Country Club Hills, IL | $173,275,221 | $89,069,791 |
American Property Casualty Insurance Association Chicago, IL | $156,045,230 | $59,541,606 |
Healthcare Information And Management Systems Society Chicago, IL | $52,722,997 | $65,054,367 |
Inter-Industry Conference On Auto Collision Repairs Hoffman Estates, IL | $98,841,828 | $60,778,547 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
Society Of Actuaries Professional Association Schaumburg, IL | $48,907,069 | $54,354,624 |
North Central States Regional Council Of Carpenters St Paul, MN | $80,577,529 | $40,138,567 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
Ipc International Inc Bannockburn, IL | $35,069,140 | $30,776,508 |
Apics Inc Chicago, IL | $42,029,595 | $30,789,675 |